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You don’t pay for things from your brokerage fund by cashing out your QQQ shares. You don’t pay for things with the gold in your home safe. You don’t keep fun
by flatline 6y ago
You don’t pay for things from your brokerage fund by cashing out your QQQ shares.
You don’t pay for things with the gold in your home safe.
You don’t keep funds in a foreign currency in your home country for everyday purchases.
There is no use of bitcoin for which this seems well-suited.
- arcticbull 6y agoFor what it’s worth you could (read: not should lol) thanks to an InteractiveBrokers debit card which borrows against your margin :) then settle by selling at the end of the month to cover your debt.
- eMGm4D0zgUAVXc7 6y ago> There is no use of bitcoin for which this seems well-suited. All the things you listed are not identical to the new, very different asset class that is Bitcoin, so how can you deduce facts about Bitcoin from them? E.g. they can't be transferred as easily as scanning a QR code with your smartphone, you can't store them in your brain, they can be de-valuated by governments, and so on.
- flatline 6y ago> how can you deduce facts about Bitcoin from them? The first thing is a speculative asset. The second is a store of value. The third is a currency. I did not mention that bitcoin is taxed as a commodity in the US. Bitcoin is easy to transfer - but you still need to wait for a transaction to get stored in a block and processed by miners, and wait for the odds of a double spend reducing to near zero. Venmo is just as easy, with different risks. Note that I am not entirely bearish about bitcoin. It’s cool tech! But it has some real limitations and there seems to be no upside to paying with it through Visa of all things.